Funding arb · Price arb /

SMCI

RWAall SMCI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h +0.036%

Price spread now: GRVT against QFEX+0.034%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$910.909% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.034%, 7d avg +0.028%

Together, before fees−0.015%+ Points / potential airdropGRVT: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.053%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SMCI-USD	40.940	0.0075	pay 0.0009% / 1h	1m 12s	$1.1M	$1.8M	10x
Short	GRVT SMCI_USDT_Perp	40.954	0.0059	get 0.0059% / 8h	1h 01m	$260	$168K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee QFEXbpFee GRVTbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$3.4
Price spread: +0.034% → +0.028%: $0.64
Slippage, 4 orders: −$71.88
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$93.64
Costs to cover: 0.909%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; GRVT: live order book, 36 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy QFEX live order book, 6 min ago	3.66 bp	8.9 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell GRVT live order book, 36 min ago	4.88 bp	34.6 bp −$35	89.8 bp −$898	doesn't fit	doesn't fit

SMCI on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SMCI/USDC PERP	−0.0220%	1h	40.590	−0.855%	$4K	$92	12x	as long as short
Bitget SMCIUSDT	−0.0160%	8h	40.931	−0.022%	$1.3M	$503K	20x	as long as short
BloFin SMCI-USDT	−0.0027%	8h	40.940	0.000%	$79K	$9K	20x	as long as short
Extended SMCI-USD	0.0000%	1h	40.939	−0.004%	$573	—	10x	as long as short
Binance SMCIUSDT	0.0000%	8h	40.950	+0.024%	$3.4M	$5.3M	20x	as long as short
Bybit SMCIUSDT	0.0000%	8h	40.930	−0.024%	$997K	$293K	25x	as long as short
OKX SMCI-USDT-SWAP	0.0000%	8h	40.930	−0.024%	$683K	$1.1M	20x	as long as short
Gate SMCI_USDT	0.0000%	8h	40.920	−0.049%	$1.5M	$1.4M	20x	as long as short
Variational Omni SMCI	0.0000%	8h	40.993	+0.129%	$116K	$127K	—	as long as short
Phemex SMCIUSDT	0.0000%	8h	40.930	−0.024%	$1.6M	$260K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SMCI	+0.0032%	1h	40.936	−0.010%	$32K	$5K	10x	as long as short
SoDEX SMCI-USD	+0.0050%	1h	40.940	0.000%	$129	$3K	10x	as long as short
GRVT SMCI_USDT_Perpshort	+0.0059%	8h	40.954	+0.034%	$260	$168K	10x
Paragon para:SMCI	+0.0060%	1h	40.912	−0.068%	$157K	$266K	10x	as long as short
QFEX SMCI-USDlong	+0.0075%	1h	40.940	long leg	$1.1M	$1.8M	10x
KuCoin SMCIUSDTM	+0.0100%	8h	40.950	+0.024%	$460K	$499K	20x	as long as short
HTX SMCI-USDT	+0.0100%	8h	40.960	+0.049%	$8K	$285K	10x	as long as short